Wednesday, 9 May 2012

GDex 3Q net profit jumps 61% to RM2.11m

KUALA LUMPUR (May 9): GD EXPRESS CARRIER BHD []'s (GDeX) net profit jumped 61.07% for its third quarter ended Mar 31 to RM2.11 million from RM1.31 million a year ago, due to an increase in business volume and growth in its customer base.

In a statement on Bursa Malaysia on Wednesday, it said that its revenue for the quarter increased 24.49% to RM28.77 million from RM23.11 million.

Earnings per share were 0.82 sen compared to 0.51 sen a year ago, while net assets per share was 19 sen.

GDex attributed its strong performance to an increase in both business volume and growth of its customer base.

It added that the completion of a transshipment hub upgrading at the end of its first quarter had also helped support the increased business volume and handling capacity increased almost three fold in its third quarter.

The group said it had also adjusted its handling fee since in the previous quarter to cushion the rise it its operating costs, adding that it continues to be cautious in controlling its costs.

In the nine months ended Mar 31, it recorded a 25.31% increase in revenue to RM84.92 million from RM67.77 million a year earlier while net profit rose 39.42% to RM5.80 million from RM4.16 million.